UPSC Prelims 2009·GS1·economy·economic sectors and development

Consider the following statements: 1. MMTC Limited is India’s largest international trading organisation. 2. Neelachal Ispat Nigam Limited has been set up by MMTC jointly with the Government of Orissa. Which of the statements given above is/are correct?

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  1. A1 only
  2. B2 only
  3. CBoth 1 and 2Correct
  4. DNeither 1 nor 2

Explanation

The correct answer is C because both statements are factually accurate according to the official status and history of the organizations involved. Statement 1 is correct as MMTC Limited, formerly known as the Minerals and Metals Trading Corporation of India, is the largest international trading house in India and a major public sector undertaking under the Ministry of Commerce and Industry. It is a leading player in the export and import of bulk minerals, precious metals, and fertilizers. Statement 2 is correct because Neelachal Ispat Nigam Limited was established as a joint venture promoted by MMTC Limited and the Government of Odisha, along with other central and state public sector undertakings. It was specifically set up to promote industrial growth and steel production in the Kalinga Nagar industrial complex.
economy: Consider the following statements: 1. MMTC Limited is India’s largest international trading organisation. 2. Neelachal I
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